Cantor Fitzgerald Reiterates “Overweight” Rating for Alkermes (NASDAQ:ALKS)

Alkermes (NASDAQ:ALKS)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $48.00 price target on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 66.03% from the stock’s previous close.

Several other research firms have also weighed in on ALKS. TD Cowen started coverage on Alkermes in a report on Monday, June 17th. They set a “buy” rating and a $34.00 target price on the stock. StockNews.com upgraded shares of Alkermes from a “hold” rating to a “buy” rating in a research report on Sunday, July 28th. JPMorgan Chase & Co. raised their target price on shares of Alkermes from $31.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Robert W. Baird lifted their target price on shares of Alkermes from $37.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, HC Wainwright increased their price target on shares of Alkermes from $35.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.70.

Alkermes Stock Up 5.6 %

Shares of NASDAQ ALKS opened at $28.91 on Thursday. Alkermes has a 52-week low of $22.01 and a 52-week high of $32.88. The firm has a fifty day moving average of $27.59 and a 200-day moving average of $25.78. The company has a quick ratio of 2.61, a current ratio of 2.99 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $4.89 billion, a PE ratio of 11.43, a P/E/G ratio of 0.56 and a beta of 0.46.

Alkermes (NASDAQ:ALKS) last issued its earnings results on Wednesday, July 24th. The company reported $0.70 EPS for the quarter, meeting analysts’ consensus estimates of $0.70. Alkermes had a return on equity of 23.20% and a net margin of 19.15%. The company had revenue of $399.13 million during the quarter, compared to the consensus estimate of $393.30 million. During the same period in the previous year, the firm posted $0.38 earnings per share. Alkermes’s quarterly revenue was down 35.4% compared to the same quarter last year. On average, analysts anticipate that Alkermes will post 2.36 EPS for the current year.

Institutional Investors Weigh In On Alkermes

Several institutional investors and hedge funds have recently modified their holdings of the stock. Signaturefd LLC increased its position in shares of Alkermes by 51.2% during the second quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock valued at $34,000 after acquiring an additional 480 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in Alkermes by 3,841.0% during the second quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock valued at $37,000 after purchasing an additional 1,498 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Alkermes by 44.4% in the 2nd quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock valued at $55,000 after acquiring an additional 703 shares during the last quarter. CWM LLC lifted its stake in shares of Alkermes by 36.7% in the 1st quarter. CWM LLC now owns 2,732 shares of the company’s stock valued at $74,000 after purchasing an additional 733 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Alkermes during the second quarter worth $116,000. 95.21% of the stock is owned by hedge funds and other institutional investors.

Alkermes Company Profile

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in therapeutic areas in the United States, Ireland, and internationally. It has a portfolio of proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder and a pipeline of clinical and preclinical product candidates in development for neurological disorders.